Welcome to our dedicated page for Schlumberger news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on Schlumberger stock.
Schlumberger Limited (SLB) is a global leader in providing technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Operating in more than 85 countries and employing a diverse workforce of over 140 nationalities, Schlumberger offers a comprehensive range of products and services. These extend from exploration through to production, including integrated pore-to-pipeline solutions that enhance hydrocarbon recovery and optimize reservoir performance.
SLB is the largest oilfield service company in the world, renowned for its expertise in various disciplines such as reservoir performance, well construction, and production enhancement. In recent years, SLB has also ventured into digital solutions, maintaining its status as a leading innovator in the industry. This continuous innovation has helped the company secure a dominant share in numerous end markets.
Among its recent achievements, Schlumberger has made significant advancements in digital technology and sustainability efforts. Their cutting-edge digital platforms aim to transform the way oil and gas operations are conducted, enhancing efficiency and reducing environmental impact.
Financially, SLB has demonstrated resilience and growth, marked by robust quarterly earnings and strategic partnerships. The company remains committed to driving progress in the oil and gas industry, making it an attractive option for investors looking for stability and innovation.
Stay updated on the latest developments, financial performance, and projects of Schlumberger Limited by visiting their official website or following the latest news releases.
SLB (NYSE: SLB) has finalized its acquisition of Gyrodata Incorporated, a leader in gyroscopic wellbore positioning technology. This strategic move aims to enhance SLB's Well Construction business by integrating advanced surveying technologies, ultimately improving wellbore quality and reducing drilling risks.
The merger is expected to elevate operational performance, streamline decision-making, and boost drilling efficiency. With this acquisition, SLB reaffirms its commitment to innovative solutions and driving energy sector advancements.
SLB reported strong fourth-quarter results with revenue of $7.9 billion, marking a 5% sequential increase and 27% year-over-year growth. GAAP EPS for the quarter was $0.74, a 17% sequential rise and 76% year-over-year increase. Full-year revenue reached $28.1 billion, representing a 23% year-on-year growth, with annual GAAP EPS of $2.39, up 81% year-over-year. The board approved a 43% increase in the quarterly cash dividend to $0.25 per share. Strong cash flow from operations was $3.7 billion, and free cash flow was $0.9 billion in Q4.
SLB (NYSE: SLB) will conduct a conference call on January 20, 2023 to discuss its fourth quarter and full year results for the period ending December 31, 2022. The call will begin at 9:30 am US Eastern time, with a press release issued earlier at 7:00 am. Listeners can join by calling the Conference Call Operator at +1 (844) 721-7241 in North America or +1 (409) 207-6955 internationally. A live webcast will also be available at www.slb.com/irwebcast. A replay will be accessible until February 20, 2023.
SLB (NYSE: SLB) confirmed details regarding its cash offer to purchase a certain amount of its senior notes. The offer is part of a previously announced initiative, wherein Schlumberger Holdings Corporation intends to acquire $394.87 million of the 3.750% Senior Notes due 2024 and $409.25 million of the 4.000% Senior Notes due 2025. The total purchase price for all accepted notes is approximately $790.12 million, excluding accrued interest. The offer expires on December 19, 2022, with an expected early settlement date of December 8, 2022.
SLB (NYSE: SLB) has announced early results regarding its cash offer to purchase up to $800 million in notes. The maximum purchase price was increased from $500 million, with no Notes of Acceptance Priority Levels 3 or 4 being accepted. The tender offers are related to several Senior Notes, including those due in 2024, 2025, 2028, and 2029, with a total principal amount outstanding over $4 billion. The Offer will expire on December 19, 2022, following an Early Settlement Date on December 8, 2022, if conditions are met.
SLB has secured a significant contract from bp for its Cypre gas project in Trinidad and Tobago. This award marks the first fully integrated EPCI contract for the
SLB is partnering with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority to develop a national strategy for geothermal resource exploration. This collaboration follows a detailed assessment of over 7,000 oil, gas, and water wells to identify geothermal prospects. Utilizing advanced AI solutions, SLB’s consulting team aims to accelerate the evaluation and economic feasibility of geothermal energy projects. This initiative aligns with Oman’s goals of achieving net-zero emissions and enhancing its clean energy portfolio.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a+' (Excellent) for Castle Harbour Insurance Limited and Harrington Sound Insurance Limited, both captive insurers for Schlumberger Limited (SLB). The outlook for these ratings is stable. The captives exhibit strong balance sheet strength and operating performance, with considerable geographic diversification. They play a strategic role in SLB's enterprise risk management framework, providing tailored insurance coverage for the company.
SLB (NYSE: SLB) will host its 2022 Investors Conference on November 3, 2022, in New York. CEO Olivier Le Peuch will present starting at 8:30 a.m. ET, discussing SLB’s strategy and business outlook. CFO Stephane Biguet will follow with a presentation at 4:05 p.m. ET, covering financial performance and 2023 guidance. Live webcasts will be available for both sessions, with a replay afterwards accessible on the company's website. The conference aims to provide insights into SLB’s operations and future objectives.
Linde and SLB announced a strategic collaboration on carbon capture, utilization, and sequestration (CCUS) projects on October 31, 2022, aimed at accelerating decarbonization across industrial and energy sectors.
This partnership combines extensive expertise in CO2 capture and sequestration, innovative technologies, and project execution capabilities, with a focus on hydrogen and ammonia production and natural gas processing. CCUS is crucial for achieving net-zero emissions by 2050, requiring over 6Gt of CO2 to be abated annually, according to the IEA.
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